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EURUSD: More Room to Move Higher Than Lower
The EURUSD sold off right where we thought it might on Thursday. I wrote about the 1.1030/60 resistance area on September 4. You can see how this region served as support throughout August. It makes sense then to assume sellers will want to defend the 1.1030/60 zone as resistance. However, I’m not selling EURUSD. Sure, Thursday’s long upper wick signals an influx of selling pressure. And so far, that 1.1030/60 area is holding as resistance. But trading price action is about more than just looking for candlestick patterns. It’s about understanding the ebb and flow in the market. You see, the aggressiveness of a ... (full story)
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